Jude Okoye, former manager of music duo Psquare, has been released from Ikoyi prison after meeting bail conditions in an ongoing ₦1.38 billion money laundering trial.
Jude, the elder brother of musicians Peter and Paul Okoye, and his company, Northside Music Limited, are facing a seven-count charge before Justice A. Owoeye of the Federal High Court in Ikoyi, Lagos.
On March 3, the Economic and Financial Crimes Commission (EFCC) filed an additional four-count charge against him. The new charges allege that Jude diverted music royalties meant for his brothers.
According to the EFCC, he fraudulently converted several funds for personal use: $767,544.15, £34,537.59, $133,566.49, and $118,652.20, “deliberately depriving Peter of his rightful earnings.”
For the fresh charges, the court set a second bail at ₦50 million, which Jude initially struggled to meet.
However, on Wednesday evening, Paul Okoye took to Instagram to announce his brother’s release.
“Jude is finally out after 2 months + all their efforts to frustrate his bail has finally collapsed. Welcome home brother @judeengees And happy birthday,” Paul wrote, sharing videos of Jude walking out of prison and reuniting with family members.
Earlier in the proceedings, Peter Okoye had testified about his fractured business relationship with Jude, further highlighting the tensions within the family amid the ongoing legal battle.
Flashback to Okoye’s case
New Daily Prime reported that Jude Okoye was charged of alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59.
The charges involve the alleged laundering of ₦1.38 billion, $1 million, and £34,537.59.
Okoye, who was arrested by the Economic and Financial Crimes Commission (EFCC), was arraigned before the Federal High Court in February. Following the hearing, he was remanded at Ikoyi Correctional Center until his bail application was reviewed. On Monday, March 3, 2025, the court ruled in his favor, setting strict conditions for his release.
He pleaded not guilty upon his arraignment and was granted bail in the sum of ₦100 million.
The court ordered Okoye to provide two sureties, each required to own landed properties worth ₦100 million in Lagos. Additionally, he is barred from leaving Nigeria without official permission from the court. These conditions aim to ensure that he remains available for trial.
Okoye’s legal troubles stem from allegations of financial misconduct. The EFCC claims that he engaged in unlawful transactions, moving large sums of money through undisclosed channels. Authorities are now preparing to present evidence in court.
